Russia’s largest pharmaceutical company to buy Singapore-based API supplier for $590 million

12:36 AM MDT | August 19, 2013 | Deepti Ramesh

Pharmstandard (Moscow), Russia’s leading pharmaceutical company, says it will acquire Bever Pharmaceutical (Singapore), a supplier of active pharmaceutical ingredients (APIs), for a total of $590 million. Russian businessman Alexander Shuster, a non-executive board member of Pharmstandard, currently owns 100% stake in Bever. Following the completion of the transaction, Shuster will become the second largest shareholder of Pharmstandard with a stake of about 18.74%. The strategic rationale for the proposed acquisition includes securing a long-term supply of...